The Financial Sector Forum
Banking
Barclays puts the squeeze on Absa
06 Feb. Barclays puts the squeeze on Absa. Absa group chief executive Maria Ramos is finding out the hard way what it is like to be bound to the bank’s global parent, Barclays, which is facing its own hardships. When Ramos delivers Absa’s full year results next Friday she will boast an earnings increase of … Continue reading
Struggling economy may restrict bank fee increases
Weak economic growth and low consumer confidence may mean lower bank charge increases for some bank customers next year. Banks usually adjust their charges at the beginning of each year. Over the past two years, banks have struggled to bring down bad debt, grow revenue and deal with rising costs and low credit demand. Consequently, … Continue reading
The way South Africans conduct their banking will change
Identity theft and an increase in fraud have led to the South African Banking Risk Information Centre (Sabric) getting access to the Department of Home Affairs fingerprint verification system. Bank clients will have to have their thumb prints scanned and produce their identity documents for any transactions. Sabric is set to launch the safety initiative today … Continue reading
Malfunction of banks can sink global economy
At the heart of every economy is a fragile mechanism: the banking system. And, in August 2007, it became clear that some of the world’s major banks had been playing fast and loose with it. That was when BNP Paribas, France’s biggest bank, closed two funds, so riddled with bad debt no one would touch … Continue reading
Major SA banks to shed staff
12 Aug. Major SA banks to shed staff. Retrenchments are looming in the home loan departments of two of the four major banks. Jan Kleynhans, the chief executive of First National Bank (FNB) Home Loans, confirmed that the bank was restructuring its sales department but stressed this was not a retrenchment programme across the business … Continue reading
Standard Bank unit wins Nigerian sharia licence
Stanbic IBTC Bank, a unit of JSE-listed Standard Bank, has won approval from Nigeria’s central bank to provide Islamic banking services in Africa’s most populous nation. A preliminary licence was awarded to Stanbic last week for a sharia-compliant banking window, the first one given to a commercial bank in the country, Central Bank of Nigeria … Continue reading
Banking and toxic debt
24 Jun. Banking and toxic debt. The big banks have made progress in reducing bad debts but a huge amount of toxic debt still clutters balance sheets. Absa has initiated a new campaign aiming to educate its customers on how to reduce debt by learning how credit works and living within their means. But the … Continue reading
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